CEAT (company)

CEAT Limited (formerly, Cavi Elettrici e Affini Torino)[4][5][6] is an Indian mult inat ional t yre
manufact uring company owned by t he RPG Group. It was est ablished in 1924 in Turin, It aly. It
has a presence in global market s. CEAT produces over 165 million t yres a year and
manufact ures t yres for passenger cars, t wo-wheelers, t rucks and buses, light commercial
vehicles, eart h-movers, forklift s, t ract ors, t railers, and aut o-rickshaws. The current capacit y
of CEAT t yres' plant s is over 800 t onnes per day.[7]
 CEAT Limit ed

Formerly Cavi Elettrici e Affini Torino

Type Public

Traded as BSE: 500878 (https://www.bseindia.com/stock-

share-price/x/y/500878/)

NSE: CEATLTD (https://www.nseindia.com/get-
quotes/equity?symbol=CEATLTD)

Industry Tyres & Tubes

Founded Turin, Italy (1924)

Founders Virginio Bruni Tedeschi

Headquarters Worli, Mumbai, India

Key people Harsh Goenka (Chairman)

Anant Goenka (MD)

Revenue ₹63,302.5 million (US$830 million) (FY 2017–

18)[1]

Net income ₹2,787.2 million (US$37 million) (FY 2017–

18)[1]

Total equity ₹404.5 million (US$5.3 million) (FY 2017–

18),[2][3]

Number of employees ~8,000

Parent RPG Group

Website ceat.com (https://ceat.com)

History
Ceat Formula Winter

The company was founded as Cavi Elet t rici e Affini Torino (Elect rical Cables and Allied
Product s of Turin) by Virginio Bruni Tedeschi in 1924, in Turin, It aly.[8] On 10 March 1958, t he
company was incorporat ed as CEAT Tyres of India, in Mumbai. Init ially, t he company
collaborat ed wit h t he Tat a Group.[9] In 1972, t he company set up a research and development
unit at Bhandup. In 1981, Deccan Fibre Glass Limit ed was merged wit h t he company.[10][11]

In 1982, RPG Group acquired t he company, and in 1990, t he company was renamed as CEAT.[9]
In 1993, t he company collaborat ed wit h Yokohama Rubber Company, t o manufact ure radial
t yres at t heir Nashik unit .[12] In 1999, CEAT formed a joint -vent ure, named as CEAT Kelani, wit h
Asia Mot orWorks (AMW) and Kelani Tyres, t o manufact ure and market [13] CEAT t yres in Sri
Lanka. in 2006, CEAT Kelani commissioned t heir first Sri Lanka-based radial-t yre
manufact uring unit in Kalut ara.[12] In 2009, AMW exit ed t he joint -vent ure.[14]

Products

CEAT manufact ures t yres[15] for various t ypes of vehicles like heavy commercial vehicles,
light commercial vehicle, off-highway t yres, passenger cars, t ract ors, mot orcycles and
scoot ers, cycles and SUVs. It export s Asia.[9]

Sponsorship

CEAT is t he bat sponsor of cricket ers Rohit Sharma, Shreyas Iyer, Mayank Agarwal, Ajinkya
Rahane [16][17] and Harmanpreet Kaur.[18][19] From 2015–18, CEAT sponsored t he st rat egic-
t imeout for t he Indian Premier League (IPL).[20]

Anti competition practices

In April 2022, t he Compet it ion Commission of India raided t he headquart ers of CEAT along
wit h ot her t yre companies like Apollo Tyres, MRF (Madras Rubber Fact ory) and Cont inent al
Tyre at mult iple locat ions. Earlier in February t he ant i t rust wat ch dog had released a
st at ement about fining t hese t yre companies a t ot al of Rs 1788 crores (of which CEAT fined
Rs 252.16 cr.) for sharing price sensit ive informat ion among t hemselves t o manage t heir
cart elizat ion of t yre prices for supplies t o t he public t ransport corporat ion of Haryana st at e.
Earlier t he All India Tyre Dealers Federat ion had complained t o t he Minist ry of corporat e
affairs about t his cart elizat ion of t hese companies t o increase t he t yre prices. The minist ry
had t hen referred t he case t o t he CCI.[21]

References

1. "Ceat" (https://www.moneycontrol.com/financials/ceat/profit-loss/C07) . moneycontrol.com.

2. "Stock Share Price | Get Quote | BSE" (https://beta.bseindia.com/stock-share-price/financials/result

s/500878/) .

3. "Add Ceat, target price Rs 923: ICICI Securities" (https://economictimes.indiatimes.com/markets/sto

cks/recos/add-ceat-target-price-rs-923-icici-securitiesbr/articleshow/76149272.cms) . The
Economic Times. 2 June 2020.

4. Limited, CEAT. "CODE OF FAIR DISCLOSURE AND CONDUCT" (https://www.ceat.com/data/investor/c

orporate-governance/code-of-conduct/CEAT-Code-for-Fair-Disclosure-and-Conduct.pdf) (PDF).

5. "What's in that name?" (https://www.thehindubusinessline.com/catalyst/whats-in-that-name/article8

332082.ece) . @businessline. Retrieved 9 September 2020.

6. "CEAT: its past and its present – Aragorn Group" (http://aragorn-group.com/2019/04/16/ceat-its-pa

st-and-its-present/) . Retrieved 9 September 2020.

7. – About us (http://www.ceat.com)

8. "What's in that name?" (https://www.thehindubusinessline.com/catalyst/whats-in-that-name/article8

332082.ece) . @businessline. Retrieved 4 December 2018.

9. "CEAT: Reports, Company History, Directors Report, Chairman's Speech, Auditors Report of CEAT -
NDTV" (https://www.ndtv.com/business/stock/ceat-ltd_ceatltd/reports) . www.ndtv.com. Retrieved
4 December 2018.

10. "Ceat History | Ceat Information - The Economic Times" (https://economictimes.indiatimes.com/ceat

-ltd/infocompanyhistory/companyid-13914.cms) . economictimes.indiatimes.com. Retrieved
4 December 2018.

11. Oberoi, Rahul (24 April 2020). "Watch out 94 big winners of last four bull markets! They may
surprise again" (https://economictimes.indiatimes.com/markets/stocks/news/watch-out-94-big-winn
ers-of-last-four-bull-markets-they-may-surprise-again/articleshow/75343184.cms) . The Economic
Times.
12. Standard, Business. "CEAT Company History - Business Standard News | Page 1" (https://www.busin
ess-standard.com/company/ceat-104/information/company-history) . Business Standard India.
Retrieved 4 December 2018.

13. "Buying opportunity for investors as Sensex, Nifty off 34% from record highs; 3 stocks set to rise up
to 26%" (https://www.financialexpress.com/market/buying-opportunity-for-investors-as-sensex-nifty-
off-34-from-record-highs-3-stocks-set-to-rise-up-to-26/1934055/) . The Financial Express. 20 April
2020.

14. Today, Business. "BUSINESS TODAY -CEAT Kelani Holdings A Synergy Driven By Quality And
Reliability" (http://www.businesstoday.lk/article.php?article=3801) . www.businesstoday.lk.
Retrieved 4 December 2018.

15. "Tyre makers likely to see demand revival on govt's rural boost; CEAT, Apollo, JK Tyre in focus" (http
s://www.moneycontrol.com/news/business/markets/tyre-makers-likely-to-see-demand-revival-on-gov
ts-rural-boost-ceat-apollo-jk-tyre-in-focus-5440101.html) . Moneycontrol.

16. Laghate, Gaurav (22 October 2016). "CEAT signs four-year endorsement deal with Ajinkya Rahane"
(https://economictimes.indiatimes.com/industry/services/advertising/ceat-signs-four-year-endorse
ment-deal-with-ajinkya-rahane/articleshow/55001327.cms) . The Economic Times. Retrieved
4 December 2018.

17. Laghate, Gaurav (31 October 2018). "CEAT extends bat deal with Rohit Sharma by 3 years" (https://
economictimes.indiatimes.com/industry/auto/tyres/ceat-extends-bat-deal-with-rohit-sharma-by-3-ye
ars/articleshow/66444543.cms) . The Economic Times. Retrieved 4 December 2018.

18. "Harmanpreet Kaur inks cricket bat deal with CEAT" (http://www.sportspromedia.com/news/harman
preet-kaur-inks-cricket-bat-deal-with-ceat) . Retrieved 4 December 2018.

19. Sharma, Harsh (26 November 2018). "Women in Blue marching into Men's commercial domain -
InsideSport" (https://www.insidesport.co/mithali-raj-leads-indian-women-power-on-crickets-commerci
al-pitch/) . InsideSport. Retrieved 4 December 2018.

20. Dasgupta, Pritha Mitra (12 March 2015). "CEAT Tyres to sponsor IPL strategic timeout" (https://eco
nomictimes.indiatimes.com/industry/auto/tyres/ceat-tyres-to-sponsor-ipl-strategic-timeout/articlesh
ow/46534844.cms) . The Economic Times. Retrieved 4 December 2018.

21. "CCI Conducts Raids On Tyre Companies" (https://www.cartoq.com/cci-conducts-raids-on-tyre-comp

anies/) . 3 April 2022. Retrieved 4 April 2022.

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